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Companies (Jersey) Law 1991: Amendment: Consultation: Responses Summary - Law Drafting Allocation

A formal published “Ministerial Decision” is required as a record of the decision of a Minister (or an Assistant Minister where they have delegated authority) as they exercise their responsibilities and powers.

Ministers are elected by the States Assembly and have legal responsibilities and powers as “corporation sole” under the States of Jersey Law 2005 by virtue of their office and in their areas of responsibility, including entering into agreements, and under any legislation conferring on them powers.

An accurate record of “Ministerial Decisions” is vital to effective governance, including:

  • demonstrating that good governance, and clear lines of accountability and authority, are in place around decisions-making – including the reasons and basis on which a decision is made, and the action required to implement a decision

  • providing a record of decisions and actions that will be available for examination by States Members, and Panels and Committees of the States Assembly; the public, organisations, and the media; and as a historical record and point of reference for the conduct of public affairs

Ministers are individually accountable to the States Assembly, including for the actions of the departments and agencies which discharge their responsibilities.

The Freedom of Information Law (Jersey) Law 2011 is used as a guide when determining what information is be published. While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.

A decision made 6 February 2013:

Decision Reference: MD-E-2013-0027

Decision Summary Title :

Drafting of a new amendment to the Companies (Jersey) Law 1991

Date of Decision Summary:

 5 February 2013

Decision Summary Author:

 

Director,

Finance Industry Development

Decision Summary:

Public or Exempt?

 

Public

Type of Report:

Oral or Written?

Oral

Person Giving

Oral Report:

Director, Finance Industry Development

Written Report

Title :

N/A

Date of Written Report:

N/A

Written Report Author:

N/A

Written Report :

Public or Exempt?

(State clauses from Code of Practice booklet)

N/A

Subject:  

 

Drafting of a new amendment to the Companies (Jersey) Law 1991

Decision(s):

The Minister decided: 

(i)     To present EDD’s Response to the Consultation Paper on a new amendment to the Companies (Jersey) Law 1991 as an ‘R’; and 

(ii)     To request the allocation of law drafting time to the drafting of a new amendment to the Companies (Jersey) Law 1991.

Reason(s) for Decision:

 

In early 2012, the period for responding to a Green Paper seeking the views of the public over proposed amendments to the Companies (Jersey) Law 1991 (“the Law”) closed.  The purpose of the proposed amendments was ‘to confirm and strengthen the competitiveness and standing of the Jersey company, a vehicle used both for local business needs and as one of the key tools of the international finance industry’.

The Green Paper identified 34 separate proposals for amendment.  Some of the proposals were of a substantive nature and invited detailed response to 46 specific questions.  Other proposals were of a relatively minor nature designed to clarify or ensure parity with connected legislation. 

The responses received are contained in the response paper attached to this Decision Summary as a supporting document. The responses have been analysed in that paper and the paper sets out Government’s position concerning the proposed changes to be made to the Law.

Now that the response paper has been finalised the next stage in the process is for the Law Draftsman to commence the drafting of an amendment to the Companies (Jersey) Law 201-. Law Drafting Instructions have been prepared in line with the response paper.

 

Resource Implications:

 

This decision has no additional financial or manpower implications for the States of Jersey.

 

Action required:

(i)     The Greffier of the States to be requested to arrange for the Response Paper to be presented to the States in due course.

(ii)      The Director of Finance Industry Development to distribute the Response to the Consultation Paper to all relevant stakeholders.

(iii)     Officers to undertake the necessary arrangements for the request to be passed to the Law Draftsman.

 

Signature:

 

 

Senator AJH Maclean

Position:

Minister for Economic Development

 

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

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